COVANTA HLDG P Market Value
| 22282EAJ1 | 80.35 12.90 13.83% |
| Symbol | COVANTA |
COVANTA 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to COVANTA's bond what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of COVANTA.
| 08/28/2024 |
| 11/26/2024 |
If you would invest 0.00 in COVANTA on August 28, 2024 and sell it all today you would earn a total of 0.00 from holding COVANTA HLDG P or generate 0.0% return on investment in COVANTA over 90 days. COVANTA is related to or competes with Western Digital, Acm Research, Sonida Senior, Marti Technologies, Neogen, Usio, and Teleflex Incorporated. More
COVANTA Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure COVANTA's bond current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess COVANTA HLDG P upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.19) | |||
| Maximum Drawdown | 11.34 | |||
| Value At Risk | (1.05) | |||
| Potential Upside | 0.6451 |
COVANTA Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for COVANTA's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as COVANTA's standard deviation. In reality, there are many statistical measures that can use COVANTA historical prices to predict the future COVANTA's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.20) | |||
| Total Risk Alpha | (0.45) | |||
| Treynor Ratio | (51.47) |
COVANTA HLDG P Backtested Returns
COVANTA HLDG P secures Sharpe Ratio (or Efficiency) of -0.0564, which signifies that the bond had a -0.0564% return per unit of volatility over the last 3 months. COVANTA HLDG P exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please confirm COVANTA's mean deviation of 0.652, and Risk Adjusted Performance of (0.08) to double-check the risk estimate we provide. The bond shows a Beta (market volatility) of 0.0038, which signifies not very significant fluctuations relative to the market. As returns on the market increase, COVANTA's returns are expected to increase less than the market. However, during the bear market, the loss of holding COVANTA is expected to be smaller as well.
Auto-correlation | 0.20 |
Weak predictability
COVANTA HLDG P has weak predictability. Overlapping area represents the amount of predictability between COVANTA time series from 28th of August 2024 to 12th of October 2024 and 12th of October 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of COVANTA HLDG P price movement. The serial correlation of 0.2 indicates that over 20.0% of current COVANTA price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | -0.08 | |
| Residual Average | 0.0 | |
| Price Variance | 5.21 |
COVANTA HLDG P lagged returns against current returns
Autocorrelation, which is COVANTA bond's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting COVANTA's bond expected returns. We can calculate the autocorrelation of COVANTA returns to help us make a trade decision. For example, suppose you find that COVANTA has exhibited high autocorrelation historically, and you observe that the bond is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
COVANTA regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If COVANTA bond is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if COVANTA bond is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in COVANTA bond over time.
Current vs Lagged Prices |
| Timeline |
COVANTA Lagged Returns
When evaluating COVANTA's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of COVANTA bond have on its future price. COVANTA autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, COVANTA autocorrelation shows the relationship between COVANTA bond current value and its past values and can show if there is a momentum factor associated with investing in COVANTA HLDG P.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in COVANTA Bond
COVANTA financial ratios help investors to determine whether COVANTA Bond is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in COVANTA with respect to the benefits of owning COVANTA security.